Planning for Billion-Dollar Buildings

The sky's the limit, but for how much longer? Hugh Burgess of Allianz joins MoneyBeat to discuss the rise of the billion-dollar building.

This transcript has been automatically generated and may not be 100% accurate.

... been been been been been been BdB ... the sky's the limit but for how much longer but twenty nineteen Saudi Arabia's King Intel is projected to become the world's tallest building ... reaching a height of one km ... the skyscrapers continue to reach new heights the challenges facing builders and insurers also crossover into uncharted territory ... here to explain is to purchase Ali on its core ... global corporate and specialty CEO of the Americans to thank so much for being him if you fancy does insurer world of one World Trade Center ... and I'm so that's going to be what by this new building that's coming up and spotted by the end of the decade what is the challenges with some of these huge huge buildings ... what sounds is in her crate ... were talking about ... groundbreaking never been done before types of construction ... so you TV and when you dive into the engineering and when we dive into the engineering from an insurance standpoint ... comments of our engineers with the engineers that went into designing a construction try and make sure that a lot of the contingencies weapons of a fire breaks out in the top of the building is open plan for for pralines engine your enchanting can handle that ... aam and we analyze the risk of Marin ... and try to mitigate it is as much as possible but ... it is still a very much a champ when you talk about the engineering aspects of ending just elevators along like to ... talk about that ... yet such is the construction of the building itself the technology inside the building a house to keep pace in terms of groundbreaking and never been done before types of things ... elevators have never been found built ... to be that high before ... so in the elevator technology has to keep up and prepare it so physically ... to be able to lift elevators up that high as well so it's not just the building itself it's all the technology and into as Wells the channel is fascinating and so ... we think about some of the world's biggest skyscrapers a lot of them are into buying in Asia is not far behind ... up with is North America's standing in this year's boom ... that were literally could add that and it's shifting is shifting to the these these higher and higher buildings are shifting to other parts the world ... most these emerging economies ... are where the has been rapid economic expansion ... labor is cheaper ... on ... terrorism might be thought of us of a risk on the size of things definitely ... shifted from what use to be ... more of a North American home on or if you will of having a record seventeen new parts the world where these economies are really growing ... so how high can these buildings go are we going to see a little while high building anytime soon ... the trend suggests yes um if you just plot Time verses Heidi these Becker's setting buildings ... it would suggest we can have a mile high building bike twenty thirty ... while ... it's it's it's hard to believe it's hard to imagine hard to believe but that's what they know when ... we would that we would see just from a pure statistics ... will certainly be watching this closely thank you so much for being with us thank him